Safilo Reports Strong Increase in Net Income for 2025
Safilo closed out 2025 with an adjusted group net profit of 44.6 million euros, up 30.4% from the previous fiscal year. The Venice-based eyewear group notes that this result was also driven by a nearly 50% decrease in net financial expenses, which fell from 16.3 million euros to 8.3 million euros, thanks to reduced debt and more favorable exchange rates.
Resilient sales despite the impact of the dollar
According to the results approved by the board of directors, Safilo’s annual sales totaled 983.4 million euros, representing 1.8% growth at constant exchange rates (-1% at current exchange rates) following a fourth quarter that saw a 0.4% increase (-4.6% at current exchange rates) compared to the same period in 2024, reflecting the dollar’s gradual weakening against the euro over the course of the year. In 2025, Safilo’s operating performance included a capital gain of 9.7 million euros from the sale of its subsidiary Lenti, which, along with other non-recurring cost items, was excluded from adjusted results.
Improved Profitability and Margins
For the full year, adjusted EBITDA amounted to 104.2 million euros, up 12%, while the adjusted EBITDA margin improved by 120 basis points, rising from 9.4% to 10.6%. In the fourth quarter, adjusted EBITDA reached 19.7 million euros, up 12.3% compared to the fourth quarter of 2024, with the adjusted EBITDA margin improving by 130 basis points, from 7.5% to 8.8%. Over the fiscal year, adjusted operating income rose to 66.5 million euros, up 26.6% compared to 2024, driven in particular by lower depreciation and amortization. The adjusted operating margin increased to 6.8% of sales, an improvement of 150 basis points compared to the previous year.
Solid finances and a revitalized brand portfolio
“We closed out 2025 with a gross profit margin of approximately 61% and adjusted EBITDA of 10.6%, both up 120 basis points compared to 2024,” said Angelo Trocchia, CEO of Safilo, in a press release. “These results bring our profitability levels back to their highest in the past decade, and, combined with careful and effective working capital management, have helped generate free cash flow of 55 million euros and reduce net debt to 46 million euros, further strengthening our financial profile. We also continued to actively manage our brand portfolio, renewing major partnerships such as Carolina Herrera, Under Armour, Dsquared2, and Pierre Cardin, and signing a ten-year agreement for Victoria Beckham eyewear. […] On the investment front, December was marked by the acquisition of a 25% stake in Inspecs, a British group operating primarily in the optical segment, one of our most strategic areas of growth.”